Commercial Awareness
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University of Hull—Commercial Awareness November 2014 Developing Commercial Awareness [pic 1] Commercial awareness can be defined in a number of categories including understanding resources and suppliers, customers and competitors, and staying up-to-date on recent developments. The Economist, Financial times and Guardian are good examples of business publications that you can read to develop your commercial awareness. However Commercial awareness is not just limited to this alone, it can even be developed in a variety of ways from extra-curricular activities to work experience. [pic 2]In This Issue Developing Commercial Awareness Your Committee Current Affairs Events The University of Hull As commercial awareness is the understanding of how businesses work, from the clients to the economic climate and the essential skills involved in a business such as teamwork, attention to detail and problem solving, these skills can be developed unconsciously through work experience, even if it does not relate to law, for example, in McDonalds team work is essential, and is also valued in any law firm. If you can therefore show how you developed the ability to work in a team you have already shown commercial awareness. [pic 3]Different employers have their own interpretation of what commercial awareness means for them and in their sector. [pic 4][pic 5]Japans GDP Growth Japanese Recession The recession that hit Japan after April’s tax increase has turned out to be deeper than initially expected, the government said on Monday, casting fresh doubt over its efforts to boost growth in the run-up to a general election. An increase in the countrys sales tax, which was first raised in April from 5% to 8%, had hit growth in the second quarter and still appeared to be having an impact on the economy.
According to the Cabinet Office’s first estimate revealed gross domestic product shrank at an annualised rate of 1.6 % between July and September, However a revised estimate on Monday showed that real GDP slipped 1.9%, with a contraction in spending by businesses twice as severe as first thought. So what are the effects of a recession like this on businesses ? If a Multinational company with a large footprint in japan was affected they are likely to experience a decline in sales revenues and profits, which may cause a cut back on hiring new employees, in an effort to cut costs and improve the bottom line, These cost-cutting efforts will impact other businesses, both big and small, which provide the goods and services used by the big manufacturer. Travers Smith Event Travers Smith will be offering 35 Aspiring Solicitors members the opportunity to attend their offices on 23rd January 2015 and receive some essential information about the application process, life in a City law firm, networking lunch and an interactive skills session. How to Apply : email [email protected] with the subject heading “Travers Smith Event“ In order to be eligible you have to have obtained a least AAB at Alevel or equivalent and be expecting a good 2:1, law or non-law undergraduates in your penultimate or final year of study. Travel costs up to £60 to be covered by Travers Smith Places will be offered on a rolling basis For more information check www.aspiringsolicitors.co.uk Good luck ! [pic 6]Chris White Visit- 18th December! Following the success of the last talk from Chris White, he will be visiting the University of Hull again, focusing on CV’s. Chris White will be giving students a presentation on how to write a legal CV with a few extra hints and tips! PLUS 20 students will get the opportunity to have show their to Chris! In order to be selected to have your CV checked by Chris White it is essential that you have not followed those instructions under Legal CV Tips of the Aspiring Solicitors website. Any queries please contact Rachel at: [email protected] [pic 7]Chris White at the University of Hull The 2014 autumn statement